GSA Capital Partners LLP Acquires Shares of 1,677 Chord Energy Co. (NASDAQ:CHRD)

GSA Capital Partners LLP acquired a new position in Chord Energy Co. (NASDAQ:CHRD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,677 shares of the company’s stock, valued at approximately $218,000.

Other institutional investors also recently modified their holdings of the company. United Capital Management of KS Inc. increased its position in shares of Chord Energy by 5.6% during the 3rd quarter. United Capital Management of KS Inc. now owns 22,374 shares of the company’s stock valued at $2,914,000 after purchasing an additional 1,190 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Chord Energy during the 3rd quarter valued at approximately $1,124,000. Crossmark Global Holdings Inc. raised its stake in Chord Energy by 58.6% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,769 shares of the company’s stock worth $751,000 after acquiring an additional 2,131 shares during the period. Covestor Ltd boosted its position in shares of Chord Energy by 21.4% in the third quarter. Covestor Ltd now owns 767 shares of the company’s stock worth $100,000 after purchasing an additional 135 shares during the period. Finally, Seascape Capital Management raised its position in shares of Chord Energy by 18.5% during the 3rd quarter. Seascape Capital Management now owns 16,725 shares of the company’s stock valued at $2,178,000 after purchasing an additional 2,612 shares during the period. 97.76% of the stock is owned by hedge funds and other institutional investors.

Chord Energy Stock Up 1.6 %

CHRD opened at $134.43 on Monday. Chord Energy Co. has a one year low of $123.30 and a one year high of $190.23. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 5.31 and a beta of 0.98. The business’s fifty day moving average is $131.00 and its two-hundred day moving average is $152.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.93.

Chord Energy (NASDAQ:CHRD) last announced its earnings results on Wednesday, November 6th. The company reported $3.40 earnings per share for the quarter, missing the consensus estimate of $3.63 by ($0.23). Chord Energy had a net margin of 19.74% and a return on equity of 12.88%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the firm posted $5.04 EPS. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. Analysts anticipate that Chord Energy Co. will post 16.5 EPS for the current fiscal year.

Chord Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, November 27th. Chord Energy’s dividend payout ratio is presently 25.75%.

Wall Street Analyst Weigh In

CHRD has been the topic of a number of research reports. Royal Bank of Canada reduced their target price on shares of Chord Energy from $185.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Jefferies Financial Group assumed coverage on shares of Chord Energy in a research note on Thursday, September 5th. They issued a “hold” rating and a $160.00 price objective for the company. BMO Capital Markets cut their target price on Chord Energy from $205.00 to $175.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Citigroup decreased their price target on Chord Energy from $195.00 to $180.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company cut their price objective on Chord Energy from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.45.

About Chord Energy

Chord Energy Corporation operates as an independent exploration and production company in the United States. It acquires, explores, develops, and produces crude oil, natural gas, and natural gas liquids in the Williston Basin. The company sells its products to refiners, marketers, and other purchasers that have access to nearby pipeline and rail facilities.